SABMiller PLC - Acquisition

RNS Number:2396P
SABMiller PLC
25 July 2005
Ref: 16/2005
PROPOSED ACQUISITON OF MINORITY INTEREST IN THE CZECH REPUBLIC
London and Johannesburg, 25th July 2005. SABMiller plc announces that its wholly
owned subsidiary Pilsner Urquell Investments B.V. ('PUI') has initiated a
buy-out process to acquire the remaining 3.1% interest held by minority
shareholders in the group's Czech operating company, Plzensky Prazdroj a.s. ('
Plzensky Prazdroj'). Following the proposed transaction, PUI will be the sole
shareholder in Plzensky Prazdroj.
Following an amendment to the Czech Commercial Code and at the request of PUI,
Plzensky Prazdroj's majority shareholder, the board of directors of Plzensky
Prazdroj has called an extraordinary general meeting of shareholders ('EGM') at
which it expects PUI's offer to minority shareholders to be approved. The value
of the gross assets to be acquired is US$18.0 million or CZK446.7 million
(representing 3.1% of total gross assets). The EGM is expected to take place on
26th August 2005 and the acquisition of the minority shareholders' interest is
expected to complete in October 2005.
Ends
Notes to editors:
SABMiller plc
SABMiller plc is one of the world's largest brewers, with 2004/05 lager sales
volumes in excess of 148 million hectolitres. It has a brewing presence in over
40 countries across four continents and a portfolio of strong brands and leading
market shares in many of the countries in which it has brewing operations.
Outside the USA, SABMiller plc is one of the largest bottlers of Coca-Cola
products in the world.
In the year ended 31 March 2005, the group generated US$2,194 million pre-tax
profit from a turnover of US$14,543 million. SABMiller plc is listed on the
London and Johannesburg stock exchanges.
Plzensky Prazdroj
Plzensky Prazdroj is the leading brewing company in the Czech Republic with
lager sales volumes of over 9.7m hls in 2004/05 in over 50 countries. Its main
brands are Pilsner Urquell, Gambrinus, Radegast and Velkopopovicky Kozel.
Website: www.sabmiller.com
High resolution images are available for the media to view and download free of
charge from: www.vismedia.co.uk
Enquiries:
Sue Clark Director of Corporate Affairs Tel: +44 20 7659 0184
Gary Leibowitz Vice President, Investor Relations Tel: +44 20 7659 0119
Mob: +44 7717 428540
Nigel Fairbrass Head of Media Relations Tel: +44 20 7659 0105
Mob: +44 7799 894265
This announcement does not constitute an offer to sell or issue or the
solicitation of an offer to buy or acquire securities of SABMiller plc (the
'Company') or any of its affiliates in any jurisdiction or an inducement to
enter into investment activity.
This document includes 'forward-looking statements'. These statements may
contain the words 'anticipate', 'believe', 'intend', 'estimate', 'expect' and
words of similar meaning. All statements other than statements of historical
facts included in this announcement, including, without limitation, those
regarding the Company's financial position, business strategy, plans and
objectives of management for future operations (including development plans and
objectives relating to the Company's products and services) are forward-looking
statements. These forward-looking statements involve known and unknown risks,
uncertainties and other important factors that could cause the actual results,
performance or achievements of the Company to be materially different from
future results, performance or achievements expressed or implied by such
forward-looking statements. These forward-looking statements are based on
numerous assumptions regarding the Company's present and future business
strategies and the environment in which the Company will operate in the future.
These forward-looking statements speak only as at the date of this announcement.
The Company expressly disclaims any obligation or undertaking to disseminate
any updates or revisions to any forward-looking statements contained in this
announcement to reflect any change in the Company's expectations with regard
thereto or any change in events, conditions or circumstances on which any such
statement is based.
Any information contained in this announcement on the price at which the
Company's securities have been bought or sold in the past, or on the yield on
such securities, should not be relied upon as a guide to future performance.
This information is provided by RNS
The company news service from the London Stock Exchange
END
ACQILFFTDSIVFIE

Copyright Investis Ltd. All rights reserved. Data and charts may be delayed by 15 minutes or more. Financial data provided by Morningstar. By using this web page you agree to our terms of use and to the terms of our privacy statement.